[140 Pages Report] The global smart pole market is expected to be worth USD 16.65 Billion by 2023 from USD 4.92 Billion in 2016, growing at a CAGR of 19.99% between 2017 and 2023.

The years considered for the study are as follows:

Base year: 2016

Projected year: 2023

Forecast period: 20172023

The following are the major objectives of the study:

To define, describe, and forecast the smart pole market on the basis of offering, installation type, application, and geography

To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)

To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the smart pole market

To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contribution to the total market

To forecast the market size, in terms of value, for various segments, with regard to four main regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)

To strategically profile the key players and comprehensively analyze their market share and core competencies, along with detailing the competitive landscape for market leaders

To analyze the competitive developments such as joint ventures, mergers and acquisitions, product developments, and research and development (R&D) carried out in the smart pole market

During this research study, the major players operating in the smart pole market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. The percentage splits obtained using secondary sources, such as Hoovers, Bloomberg BusinessWeek, Factiva, and One Source have been used, along with primary respondents to estimate the sizes of other individual markets. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region conducted during the research study.

The smart pole market is expected to be valued at USD 16.65 Billion by 2023, growing at a CAGR of 19.99% between 2017 and 2023. Some of the key factors driving the growth of this market are the need for energy-efficient pole lighting systems, increasing government initiatives for smart cities, and advantage of preventing traffic jams and accidents.

The smart pole system has various advantages over conventional street lights such as reduced maintenance costs, real-time reports and controllability, less environmental impact, etc. The smart pole could be seen as a revolution in the street pole industry and would create ample opportunities for the players operating in the field of smart devices, street light systems, internet connectivity, and communication devices, among others, in the coming years.

The smart pole market for software is expected to grow at the highest CAGR between 2017 and 2023. Software includes all the software solutions such that are integrated into the smart pole to make it connected and enable it to transfer and manage information. The basic feature of software used in any lighting system is the ability to control the functionality of the light. Some of the functions of the smart lighting software are daylight saving, real-time monitoring, alarms for street and other outdoor lights, dimming control, energy savings, intelligent dispatching, intuitive programming, scheduling of lighting functions, and analytics and reporting. The increasing interconnectivity of devices would create a demand for more robust software solutions. Thus, the market for the software solution is expected to grow at the highest rate during the forecast period.

North America is expected to hold the largest size of the smart pole market in 2016, and the market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The early adoption of smart pole system in the US where a huge number of projects are being undertaken either for retrofitting smart poles or new installations is the main driving factor for the largest market size in North America. The market in APAC is expected to grow at the highest rate because of the increasing government initiatives in countries such as China, India, Japan, and Australia to expedite the replacement of traditional pole systems with smart pole systems to reduce the load of energy consumption by the street lights by 40%.

The major factor restraining the growth of the market is the higher upfront cost compared to traditional poles. Street and roadway lighting is an important service provided by public authorities at municipal and local levels, and efficient lighting is essential for urban ambience, road safety, and personal safety. Smart poles can save costs over the long term by reducing the energy consumption of street lighting and offering other facilities such as electric vehicle charging, pollution sensors, and Wi-Fi connectivity, among others, in a single device. However, the initial installation cost of the implementation and equipment is very high. Numerous factors determine the cost of installing street lighting, such as the source type, wattage type, and location. Moreover, the installation of smart pole needs various hardware components such as dimmers, sensors, communication devices, and control systems, as well as software. All these components significantly increase the cost involved in the installation of smart poles compared to conventional poles because of the high cost of software and control systems required in smart poles. This factor hampers the large-scale adoption of smart poles. On the other hand, factors such as the reducing prices of LEDs and high return on investment (ROI) of smart lighting in the long run are expected to lessen the impact of this restraint in the future.

The key players in the market include Philips Lighting Holding B.V. (Netherlands), GE Lighting Co. Ltd (US), Hubbell Incorporated (US), Cree, Inc. (US), Eaton Corporation (Ireland), Acuity Brands (US). The companies in the market are strengthening their product portfolios by increasing their R&D investments. The key players in this market are increasingly undertaking partnerships and collaborations, and new product developments and launches to develop new technologies and appliances in the market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Figure 1 Smart Pole MarketFigure 2 Geographic ScopeFigure 3 Process Flow: Smart Pole Market Size EstimationFigure 4 Global Smart Pole Market: Research DesignFigure 5 Market Size Estimation Methodology: Bottom-Up ApproachFigure 6 Market Size Estimation Methodology: Top-Down ApproachFigure 7 Data TriangulationFigure 8 Retrofit Type Expected to Hold the Largest Size for the Smart Pole Market During the Forecast PeriodFigure 9 Component Expected to Hold the Largest Size of the Market During the Forecast PeriodFigure 10 Highways and Roadways Application Expected to Dominate the Market During the Forecast PeriodFigure 11 Smart Pole Market Share, By GeographyFigure 12 Attractive Growth Opportunities in the Smart Pole Market Between 2017 and 2023Figure 13 Retrofit Installation Expected to Play A Significant Role in the MarketFigure 14 Highways and Roadways Application Expected to Hold the Largest Share of the Smart Pole Market During the Forecast PeriodFigure 15 Component Expected to Dominate the Smart Pole Market During the Forecast PeriodFigure 16 India Expected to Grow at the Highest CAGR During the Forecast PeriodFigure 17 Need for Energy-Efficient Pole Lighting Systems to Drive the Smart Pole MarketFigure 18 Value Chain Analysis (2017) of the Market: Major Value is Added By Component Manufacturing and System IntegrationFigure 19 Growing Connectivity and Closed Protocols are the Leading Trends Among Key Market PlayersFigure 20 Smart Pole Segmentation, By OfferingFigure 21 Market for Components Expected to Hold the Largest Size During the Forecast PeriodFigure 22 Light-Emitting Diodes Expected to Hold the Largest Market in Lighting Lamp During the Forecast PeriodFigure 23 Smart Pole Segmentation, By Installation TypeFigure 24 Retrofit Installation to Hold A Larger Market Size During the Forecast PeriodFigure 25 North America to Lead the Market for Retrofit Installations of Smart PolesFigure 26 Smart Pole Market Segmentation, By ApplicationFigure 27 Highways and Roadways to Dominate the Market for Smart Poles During the Forecast PeriodFigure 28 North America to Dominate the Market for the Railways and Harbors Application During the Forecast PeriodFigure 29 Smart Pole Market Segmentation, By RegionFigure 30 Geographic Snapshot for Smart Pole Market (2016)Figure 31 North America to Lead the Market for Smart Pole During the Forecast PeriodFigure 32 North America: Smart Pole Market SnapshotFigure 33 Retrofit Type Installation to Hold the Larger Market Size in US During the Forecast PeriodFigure 34 Highways and Roadways Application to Lead the Market in Mexico During the Forecast PeriodFigure 35 Europe: Smart Pole Market SnapshotFigure 36 Highways and Roadways to Lead the Smart Pole Market in Germany During the Forecast PeriodFigure 37 Highways and Roadways Application to Lead the Market for Smart Pole in Spain During the Forecast PeriodFigure 38 APAC: Smart Pole Market SnapshotFigure 39 Market for Highways and Roadways Application in China Expected to Lead the Market During the Forecast PeriodFigure 40 Smart Pole Market for Highways and Roadways Application Expected to Hold the Largest Size of the Market in Australia During the Forecast PeriodFigure 41 Middle East to Lead the Smart Pole Market in RoW During the Forecast PeriodFigure 42 Highways and Roadways Application to Lead the Market in South America During the Forecast PeriodFigure 43 Companies Adopted New Product Development as Key Growth Strategies Between 2014 and 2017Figure 44 Battle for Market Share: New Product Launch/Development and Agreement, Partnership & Collaboration Was the Key Strategies Adopted By Companies Between 2013 and 2017Figure 45 Philips Lighting Holding B.V.: Company SnapshotFigure 46 General Electric Company: Company SnapshotFigure 47 Hubbell Incorporated: Company SnapshotFigure 48 Cree, Inc.: Company SnapshotFigure 49 Eaton Corporation PLC: Company SnapshotFigure 50 Acuity Brands, Inc.: Company SnapshotFigure 51 Zumtobel Group AG: Company Snapshot

Request for detailed methodology, assumptions & how numbers were triangulated.

Please share your problem/objectives in greater details so that our analyst can verify if they can solve your problem(s).